Amazon.com Forecast and Stock Analysis
Technical AMZN stock analysis for February 14, 2019.
Amazon.com fell by -1.06% in the last day from $1 640.00 to $1 622.65 The price has been going up and down for this period, and there has been a -5.59% loss for the last 2 weeks. Volume has increased in the last day by 0.57 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 4.09 million shares bought and sold for approximately $6 633.86 million.
Close price at the end of the last trading day (Thursday, 14th Feb 2019) of the AMZN stock was $1 622.65. This is 1.06% less than the trading day before Wednesday, 13th Feb 2019.
During day the stock fluctuated 1.98% from a day low at $1 606.06 to a day high of $1 637.90.
30 day high of the AMZN stock price was $1 736.41 and low was $1 566.76.
90 day high was $1 778.34 and low was $1 307.00.
52 week high for the Amazon.com - $2 050.50 and low - $1 307.00.
Amazon.com lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.85% during the next 3 months and, with 90% probability hold a price between $1 436.71 and $1 898.01 at the end of this period.
Amazon.com holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $1 619.22 and $1 617.32. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday February 13, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 45 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $1 495.46 and $1 470.90.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Amazon.com finds support just below today's level at $1 495.46. If this is broken, then the next support from accumulated volume will be at $1 470.90 and $1 377.45.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $31.84 (1.98%) between high and low. For the last week, the stock has had a daily average volatility of 1.71%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Amazon.com holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.